Summerland Okanagan Market Flash Update

BC Real Estate Economist Cameron Muir reports on August sales, and tells you to check with a local Realtor for details on your local market…here is his video, and below see my personal notes:

The August Swoon has had a bit of a bite in Summerland this year!
In the last 30 day window, total MLS Sales in Summerland came to…11.

That is very weak demand!

For example, last year, during the exact same window of time, there were 32 sold.
In fact, this shows us THE WEAKEST SALES RESULTS for this exact same 30 day window we have seen in many years.

Here’s hoping the Harvest Moon will overcome that dreaded August Swoon we (hopefully) are limping out of!

The thing is, though, that this imbalance can change, drastically, for the better here in small town Summerland!  Let me explain…experience shows that the majority of all those sellers listed are actually buyers…in waiting.  As soon as THEY get an offer, they want to buy…here in Summerland! And so, if you are a buyer, ready to buy, just watch out that waiting does not become a force of habit…this market can take a bit of a bite allright, but not just out of a seller!  And, remember, Bob Rennie (a VERY successful Real Estate aquaintance of mine from days working in Vancouver) is fond of asking this question:

“Who is the REAL speculator?  The one who DOES put their money out there and DOES make a decision to purchase?  Or is the TRUE Real Estate Speculator the one who WANTS to buy, but thinks they will be rewarded by NOT buying”.  You be the judge on that one!

Thank you,

Patrick Murphy 250 486 2529
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